During Friday’s Current trade, Shares of 3M Co (NYSE:MMM), lost -0.06% to $151.48.
3M (MMM) stated second-quarter earnings of $2.02 per share, an enhance of 5.8 percent as compared to the second quarter of 2014. Sales declined 5.5 percent year-on-year to $7.7 billion. Organic local-currency sales grew 1.8 percent and foreign currency translation reduced sales by 7.3 percent year-on-year.
Operating income was $1.8 billion and operating income margins for the quarter were 23.9 percent, up 1.1 percentage points year-on-year. Second-quarter net income was $1.3 billion and the company converted 74 percent of net income to free cash flow.
3M paid $646 million in cash dividends to shareholders and repurchased $1.7 billion of its own shares during the quarter.
Organic local-currency sales growth was 4.9 percent in Safety and Graphics, 3.4 percent in Health Care, 3.4 percent in Consumer and 1.4 percent in Industrial; Electronics and Energy declined 3.0 percent. On a geographic basis, organic local-currency sales grew 4.1 percent in the U.S., 0.8 percent in Latin America/Canada, 0.5 percent in Asia Pacific, and 0.4 percent in EMEA (Europe, Middle East and Africa).
3M Company operates as a diversified technology company worldwide. Its Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; filtration products; closure systems for personal hygiene products; acoustic systems products; automotive components; abrasion-resistant films; structural adhesives; and paint finishing and detailing products.
Shares of Amkor Technology, Inc. (NASDAQ:AMKR), inclined 3.06% to $4.38, during its current trading session.
Amkor Technology, Inc. (AMKR), a leading provider of semiconductor packaging and test services, recently declared financial results for the second quarter ended June 30, 2015.
Second quarter 2015 results comprise a $9 million ($0.04 per diluted share) charge for the early extinguishment of debt related to the redemption of all $345 million aggregate principal amount of Amkor’s outstanding 7.375% Senior Notes due 2018. Second quarter 2014 results comprise a net gain of $18 million ($0.08 per diluted share) related to the sale of Amkor’s Japanese partner to J-Devices, its joint venture in Japan.
During the second quarter we accomplished the redemption of our 7.375% Senior Notes due 2018 using cash on hand and borrowings under our credit facilities which bear interest at floating rates tied to LIBOR. Based on current interest rates, we expect to save about $17 million in annual interest expense from the redemption.
Amkor Technology, Inc. provides outsourced semiconductor packaging and test services in the United States, China, Ireland, Japan, Singapore, Taiwan, Thailand, and internationally. The company offers turnkey packaging and test services, counting semiconductor wafer bumps, wafer probes, wafer backgrinds, package design, packaging, and test and drop shipment services. Its packages employ wirebond, flip chip, and copper clip interconnect technologies; and leadframe and substrate package carriers are used for various testing services.
Tesla Motors Inc (NASDAQ:TSLA), during its Friday’s current trading session gained 0.43% to $267.75.
Tesla Motors (TSLA) declared 11,507 Model S deliveries for Q2 2015. This was a new company record for the most cars delivered in a quarter and represents an approximate 52% enhance over Q2 last year.
There may be small changes to this delivery count (usually well under 1%), as Tesla only counts a delivery if it is transferred to the end customer and all paperwork is correct.
Also, this is only one measure of our financial performance and should not be relied on as an indicator of our quarterly financial results, which depend on a variety of factors, counting the cost of sales, foreign exchange movements and mix of directly leased vehicles.
Tesla Motors, Inc. designs, develops, manufactures, and sells electric vehicles, electric vehicle powertrain components, and stationary energy storage systems in the United States, China, Norway, and internationally. It also provides development services to develop electric vehicle powertrain components and systems for other automotive manufacturers.
Finally, Pioneer Natural Resources (NYSE:PXD), decreased -0.70%, to $129.03.
Pioneer Natural Resources Company (PXD) provided updates on (i) the Company’s expected production for the second quarter of 2015, (ii) expected production for full-year 2015 and (iii) commodity derivatives positions through 2017.
Second Quarter 2015 Production
Pioneer’s production averaged 197 thousand barrels oil equivalent per day (MBOEPD) in the second quarter of 2015, of which 51% was oil production. Oil sales averaged 101 thousand barrels per day (MBPD), natural gas liquids (NGLs) sales averaged 37 MBPD and gas sales averaged 356 million cubic feet per day. The Company’s production guidance for the quarter was 198 MBOEPD to 203 MBOEPD.
Strong Spraberry/Wolfcamp production performance in the second quarter (119 MBOEPD) was partially offset by lower-than-expected production in the Eagle Ford Shale (46 MBOEPD). The shortfall in the Eagle Ford Shale was primarily due to (i) fewer wells being placed on production during the quarter as a result of weather delays and (ii) well performance issues in LaSalle County, an area outside of Pioneer’s core acreage in Karnes and Dewitt counties. Second quarter production in the West Panhandle field (7 MBOEPD) was also negatively impacted by a longer-than-expected turnaround at the Fain gas processing plant and weather impacts.
Pioneer Natural Resources Company engages in the exploration and production of oil and gas in the United States. The company produces and sells oil, natural gas liquids (NGLs), and gas. It has operations primarily in the Permian Basin in West Texas, the Eagle Ford Shale play in South Texas, the Raton field in southeastern Colorado, and the West Panhandle field in the Texas Panhandle.
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